Resolution reforming, adding and repealing various General Provisions referred to in Article 91 of the Investment Funds Law

DOF: 09/09/2021

RESOLUTION that reforms, adds and repeals various of the General Provisions referred to in Article 91 of the Investment Funds Law

A seal with the National Emblem appears on the margin, which says: United Mexican States.- TREASURY.- Ministry of Treasury and Public Credit.

RESOLUTION THAT REFORMS, ADDS AND REPEALS VARIOUS OF THE GENERAL PROVISIONS TO WHICH ARTICLE 91 OF THE INVESTMENT FUNDS LAW REFERS

ROGELIO EDUARDO RAMÍREZ DE LA O, Secretary of Treasury and Public Credit, based on what is established by articles 31, fractions VII and XXXII, of the Organic Law of the Federal Public Administration; 91 of the Investment Funds Law, in exercise of the powers conferred upon me by article 6º, fraction XXXIV, of the Internal Regulations of the Ministry of Treasury and Public Credit, and with the prior opinion of the National Banking and Securities Commission issued via letter number VSPP-220/ 10030526/2021 dated July 29, 2021; and

CONSIDERING

That since the year 2000 Mexico has been a full member of the Financial Action Task Force (FATF), an intergovernmental body that sets international standards in matters of prevention and combat against operations with funds of illicit origin and financing of terrorism.

That on July 22, 2019, the Ministry of Treasury and Public Credit published in the Official Gazette of the Federations various modifications to the General Provisions referred to in Article 91 of the Investment Funds Law, with the object of addressing the recommendations of the FATF and establishing a regime for non-presential identification, thereby granting the possibility to investment fund operating companies and distributors of investment fund shares to carry out client identification through a real-time videoconference and online, as well as the obligation of investment fund operating companies and distributors of investment fund shares to obtain the geolocation of their clients, defined as the geographic coordinates of latitude and longitude where the device through which their clients conduct operations is located; which resulted in a strengthening of the risk assessment methodology so that these entities evaluate their risks of being used to carry out operations with funds of illicit origin and financing of terrorism prior to the use of new technologies.

That on March 6, 2020, the FATF published the Digital Identification Guide, resulting as a watershed in the topic of financial technology, showing the benefits of digital identity in matters of prevention and combat against operations with funds of illicit origin and financing of terrorism, presenting financial technology as a more reliable and secure way for financial entities at the time of carrying out client identification through the use of mechanisms such as proof of life, the use of biometric elements and authentication factors, among others, which allow the mitigation of risks of operations with funds of illicit origin and financing of terrorism.

That on March 11, 2020, the World Health Organization declared the disease caused by the virus SARS-CoV2 (COVID-19) as a pandemic, calling on countries to: (i) adopt urgent and aggressive measures to contain the spread of the virus, (ii) implement an approach based on participation of the whole government and all society, around a comprehensive strategy directed to prevent infections, save lives and minimize its effects, and (iii) find a delicate balance between the protection of health, minimization of social and economic disruptions, and respect for human rights.

That on March 24, 2020, the Ministry of Health published in the Official Gazette of the Federation the "Agreement by which preventive measures are established that must be implemented for the mitigation and control of health risks implied by the disease caused by the SARS-CoV2 virus (COVID-19)", which establishes in its Second Article, subsection c) "Temporarily suspend activities of the public, social and private sectors that involve physical concentration, transit or displacement of people from the entry into force of this Agreement and until April 19, 2020".

That on March 31, 2020 the Ministry of Health published in the Official Gazette of the Federation the "Agreement by which extraordinary actions are established to address the health emergency generated by the SARS-CoV2 virus", which, in its First Article, fraction I, orders the immediate suspension, from March 30 to April 30, 2020, of non-essential activities, with the purpose of mitigating the dispersion and transmission of the SARS-CoV2 virus in the community.

That through the "Agreement by which the similar one by which extraordinary actions are established is modified to address the health emergency generated by the SARS-CoV2 virus, published on March 31 of 2020", published on April 21, 2020 in the Official Gazette of the Federation, the Ministry of Health resolved it necessary to maintain and extend the National Day of Healthy Distance until May 30, 2020, as well as ensure the adequate implementation and compliance of sanitary security measures.

That on May 15, 2020 the Ministry of Health published in the Official Gazette of the Federation the "Agreement by which the diverse one by which a strategy is established for the reopening of social, educational and economic activities is modified, as well as a regional traffic light system to evaluate weekly the epidemiological risk related to the reopening of activities in each federal entity, as well as extraordinary actions are established, published on May 14, 2020" with the objective of establishing a mechanism that involves the public, social and private sectors to resume activities under sanitary security protocols, which guarantee both to their workers, as well as to the general public that standards are being met that reduce risks associated with SARS-CoV2.

In that sense and particularly regarding the financial system, there was a massive closure of branches of various financial entities, in compliance with the sanitary measures declared by the Federal Government for the period during which the contingency due to COVID-19 remains in effect; which translated into one of the main challenges to guarantee the continuity of the offering and provision of financial services to the general public attending to the new normality, without neglecting or undermining the regime of prevention of operations with funds of illicit origin and financing of terrorism.

That on April 1, 2020, the FATF issued a statement regarding the health emergency generated by COVID-19 and measures to combat illicit financing, making a call for (i) countries to explore the appropriate use of simplified identification measures and digital identification to facilitate financial operations while mitigating risks of operations with funds of illicit origin and financing of terrorism, and (ii) regulators, supervisors and other authorities involved in the matter, provide the necessary assistance to the private sector regarding how the regulation in the matter will be applied during the current health crisis.

That, even though currently investment fund operating companies and distributors of investment fund shares have had since July 2019 a non-presential identification regime, it was not sufficient to address the needs of the general public to celebrate contracts and, at the same time, mitigate risks in matters of prevention of operations with funds of illicit origin and financing of terrorism.

In that sense and based on the FATF Digital Identification Guide, as well as in compliance with Recommendations 10 and 15 of said group, it is considered necessary, just like with other participants regulated in the matter, first, to recognize the legal possibility that investment fund operating companies and distributors of investment fund shares can comply with their obligations in matters of prevention of operations with funds of illicit origin and financing of terrorism through the use of new technologies, of course with the responsibility that they comply with the applicable norms for that effect so that they have the value that corresponds in law.

In addition to the above and in order to give legal certainty to investment fund operating companies and distributors of investment fund shares in the fulfillment of the obligation to obtain geolocation in non-presential operations, provided in the Resolution that reforms, adds and repeals various of the General Provisions referred to in Article 91 of the Investment Funds Law, published in the Official Gazette of the Federation on July 22, 2019 (Resolution 2019), its scope and definition are clarified and a new deadline is established to fulfill the obtaining of the geographic coordinates of latitude and longitude when these are based on the matching of the Internet protocol address of the device from which clients conduct non-presential operations with investment fund operating companies and distributors of investment fund shares, leaving without effect the deadline provided in fraction IV of the Third Transitory Provision of Resolution 2019 for this particular case.

That, in accordance with Recommendation 10 of the FATF which allows the application of simplified measures based on a risk-based approach, it is considered relevant to increase the transactional level for contracts of simplified identification considered low-risk that offer investment fund operating companies and distributors of investment fund shares.

Additionally, in accordance with Recommendation 4 of the FATF and the content of the Mutual Evaluation Report, issued by said intergovernmental body, in January 2018, it is necessary to strengthen the legal framework regarding the formation of the Blocked Persons List, given that our country, as a member of the FATF, has recognized the formation of shell companies as a generalized technique to carry out operations with funds of illicit origin; in this sense, the condition for inclusion in the Blocked Persons List is added for those taxpayers referred to in the fourth paragraph of Article 69-B of the Fiscal Code of the Federation, this with the effect of preventing the commission of the crimes of operations with funds of illicit origin and financing of terrorism.

That in attention to Article 78 of the General Law of Regulatory Improvement and with the purpose of complying with the requirement of regulatory simplification for the issuance of this Resolution, the savings generated in the "Resolution that reforms, adds and repeals various of the General Provisions to which Article 91 of the Investment Funds Law refers, audited by the National Commission for Regulatory Improvement in file CONAMER/21/3586, with an amount of $1,462,095,506.69 pesos will be taken.

RESOLUTION THAT REFORMS, ADDS AND REPEALS VARIOUS OF THE GENERAL PROVISIONS TO WHICH ARTICLE 91 OF THE INVESTMENT FUNDS LAW REFERS

ARTICLE ONLY.- The 1st, last paragraph; 2nd, fractions VIII and XIV; 4th Bis first, second, fourth and sixth paragraphs; 6th, second paragraph; 7th; 12th, first and fourth paragraphs; 13th; 20th second paragraph; 21st, fourth and last paragraphs; 23rd; 31st first paragraph; 36th first paragraph; 41st Bis first and last paragraphs; 43rd first paragraph fractions I to III; 63rd second paragraph; Annex 2 article 1, 2 and 4; are REFORMED; the 2nd fractions XX Bis and XXIV Bis; 4th Bis third and sixth paragraphs moving the rest in their order; 6th, fifth and sixth paragraphs; 12th, second, fifth and sixth paragraphs moving the rest in their order; 20th third and fourth paragraphs; 21st fifth paragraph moving the rest in their order, 64th first paragraph, fraction VII; 67th first paragraph, fraction V; Annex 2 Chapter I " Object ", Chapter II " Thresholds for non-presential identification ", Chapter III " Technological Identification Mechanisms ", Chapter IV " Requirements " and Chapter V " Other provisions ", moving the articles in their order; and are REPEALED the 4th Bis third paragraph; 12th, second paragraph; Annex 2 article 3, all of them of the General Provisions referred to in Article 91 of the Investment Funds Law, to remain as follows:

1st.- ...

...

Regarding the activities referred to in fraction V, of Article 39 Bis and the last paragraph of Article 40 Bis of the Law, Entities will not be obligated to comply with what is established in Chapters IV, and XIII, fractions II, III, IV, VIII and IX of the 46th and the second paragraph of the 20th of these Provisions, as well as with those obligations regarding Concentrator Accounts, in addition to those derived from the same according to these Provisions.

2nd.- ...

I. to VII. ...

VIII. Device, to the equipment that allows access to the worldwide network called Internet, used to celebrate contracts or perform Operations through Internet pages or mobile applications, among other technological developments, that the Entities themselves make available to their Clients to carry them out.

Devices will not be considered those that: a) Are property of the Entities. b) Are under the control of the Entities. c) Are granted under additional controls by the Entities to their Clients so that they can perform Operations, or d) Are installed in the branches of the Entities themselves or in public sites, complying with the respective regulation so that Clients can celebrate contracts or perform Operations;

IX. to XIII. ...

XIV. Geolocation, to the geographic location of the Device used to celebrate contracts or perform non-presential Operations, which consists of obtaining the geographic coordinates of latitude and longitude through the global positioning system (GPS) in which the Device is located.

In the event that Clients celebrate contracts or perform non-presential Operations from a Device that, due to its characteristics, cannot provide the geographic coordinates of latitude and longitude through GPS, Entities must obtain the geographic coordinates of latitude and longitude based on the matching of the Internet protocol address provided by the Client's Device with a geographic location, for the approximate obtaining of said coordinates.

The geographic coordinates of latitude and longitude obtained through GPS or based on the matching of the Internet protocol address must be obtained prior to the Client's consent in terms of the regulation applicable in matters of data protection;

XV. to XX. ...

XX. Bis. Technological Identification Mechanism, to any of the procedures referred to in Annex 2, through which Entities carry out the comparison of the valid identification document and the application of proof of life;

XXI. to XXIV. ...

XXIV. Bis. Interim Compliance Officer, to the person referred to in the 41st Bis of these Provisions;

XXV. to XXXV. ...

4th Bis.- Entities that celebrate a contract through Devices in a non-presential manner with Clients who are natural or legal persons, both of Mexican nationality, according to what is established in Annex 2 of these Provisions, in addition to the identification data referred to in the 4th of these Provisions, as applicable, must require and obtain from their Clients the Geolocation of the Device from which they celebrate the contract, as well as:

I. Regarding Clients who are natural persons who declare to the Entity to be of Mexican nationality: a) Repealed. b) Consent that may be obtained through Electronic Signature or Advanced Electronic Signature. Such consent will serve as proof to legally certify the celebration of the contract carried out with the Entity in a non-presential manner. c) ... d) Standardized Banking Key (CLABE) of an account opened in some financial entity or Foreign Financial Entity authorized to receive deposits, whose owner coincides with the name referred to in the 4th , fraction I of these Provisions. e) The declaration of the natural person stating that they act on their own behalf. Such declaration may be established in the Terms and Conditions that the Entity establishes for that effect. f) The digital version of the valid official personal identification document currently in force from which the data referred to in this Provision originate. g) The digital version of the proof of address which may be any of those indicated in subsection b), numeral iii. of fraction I of the 4th of these Provisions.

However, when the declared address coincides with that of the voter credential of the Client issued by Mexican authority, in case it has been identified with the same, this will function as the proof of address referred to in this subsection.

II. Regarding Clients who are legal persons of Mexican nationality: a) Email. b) Standardized Banking Key (CLABE) of an account opened in some financial entity or Foreign Financial Entity authorized to receive deposits, whose owner coincides with the denomination or corporate name referred to in the 4th , fraction II of these Provisions. c) Consent that may be obtained through Electronic Signature or Advanced Electronic Signature, of the legal representative. Such consent will serve as proof to legally certify the celebration of the contract carried out with the Entity in a non-presential manner. d) The information referred to in the 4th , fraction II, subsection c) and fraction VI of these Provisions. e) The digital version of the identification documents referred to in the 4th , fraction II, subsection b) of the present Provisions, with the exception of those indicated in numeral ii of the same subsection.

Entities shall not carry out the celebration of the contract in a non-presential manner when they do not collect the data related to Geolocation.

Entities will not be obligated to collect the data related to Geolocation regarding the societies, dependencies and entities referred to in Annex 1 of these Provisions, provided that the aforementioned societies, dependencies and entities had been classified as Clients with a Low Risk Level in terms of the 21st of these Provisions.

Paragraph repealed.

It will be understood as a valid official personal identification document currently in force for the fulfillment of the present Provision, the voter credential issued by the National Electoral Institute in the country or through consular offices of the Ministry of Foreign Affairs abroad, the passport and the consular registration certificate.

...

The digital version of the valid official personal identification document currently in force that Entities collect for identification purposes must allow its verification in terms of these Provisions.

Additionally, the digital versions of the documents that Entities collect must be kept in their Files or Records according to these Provisions. Entities must keep the documents in accordance with the Mexican official standard on digitization and conservation of Data Messages applicable or consider an international standard whenever the compliance standard has at least the requirements of the Mexican official standard and does not contravene it.

...

6th.- ...

Regarding contracts celebrated according to the 4th Bis of these Provisions, in substitution of the interview referred to in the previous paragraph, Entities may establish the Technological Identification Mechanisms referred to in Annex 2 of these Provisions.

...

...

With regard to low-Risk contracts referred to in the 12th of these Provisions, Entities may carry out the remote reception or capture of data in substitution of the interview mentioned in the first paragraph of this provision, provided that the Entity in question verifies the authenticity of the Client's data, for which they must, either directly or through a third party, make a consultation to the National Population Registry in order to integrate the Unique Key of the Population Registry of the Client and, validate that the data provided remotely by the same, with the exception of the address, coincide with the records existing in the databases of said Registry.

The validation of the identification data referred to in this Provision may be carried out through procedures different from that indicated in the previous paragraph, prior authorization of the Commission, with opinion of the Secretariat.

7th.- Entities must keep, as part of the identification file of each of their Clients, the data and documents mentioned in the Provisions of this Chapter, if applicable, the document containing the results of the interview or of the Technological Identification Mechanisms to which the 6th and the 13th refer, as applicable, that of the visit referred to in the 17th , if applicable, and the questionnaire provided in the 21st of these Provisions.

12th.- For the case of contracts in which it is agreed that the performance of Operations is limited to transactional levels below three thousand Investment Units per Client and per Entity, in the course of a calendar month, Entities will be obligated to integrate the respective identification files of their Clients, only with the data relating to full name, without abbreviations, date of birth and address of these, composed of the elements referred to in the 4th of these Provisions.

Regarding contracts celebrated in a remote manner in terms of what is established in the 6th , fifth paragraph of the Provisions, Entities must integrate the identification files of their Clients with the data relating to full name, without abbreviations, gender, state of birth, date of birth, as well as address of these, composed of the elements referred to in the 4th of these Provisions.

Repealed.

...

In the event that the transactional level established in the first paragraph of this Provision is exceeded, the Entities shall proceed to conduct the in-person interview or apply one of the Technological Identification Mechanisms referred to in the 6th and Annex 2, respectively, of these Provisions, and integrate the respective Client identification file with all the information and documentation corresponding, in terms of what is provided in the 4th or 4th Bis of these Provisions, as well as comply with the various obligations established therein.

Likewise, the Entities shall inform their Clients that they will not be able to carry out Operations above the limit until the corresponding identification process is concluded.

To determine the transactional level referred to in this provision, Entities are not obligated to consider amounts related to generated interest or any other bonus, including those amounts related to the Client's property rights, which such Entities grant for the use or management of the respective account, if any, carried out during the period in question.

13th.- For the carrying out of Operations through electronic, optical, or any other technology, Entities must previously integrate the Client identification file in accordance with what is established in these Provisions, establish mechanisms to identify the same, as well as develop procedures to prevent the improper use of said means or technologies, which must be contained in their Compliance Manual or in another document or manual prepared by the Entity itself.

20th.- ...

Regarding those Operations carried out remotely, in addition to the elements for determining the Client's transactional profile mentioned in the previous paragraph, the Entity must take into account the Geolocation of the Device from which said Operation is carried out.

The Geolocation referred to in the previous paragraph may cover the various Operations that the Client carries out in the active session within the Internet page or mobile application, among other technological developments, that the Entities themselves make available to their Clients to carry them out.

Entities will not be obligated to take into account the data related to Geolocation in terms of this Provision, regarding the societies, dependencies, and entities referred to in Annex 1 of these Provisions, provided that said societies, dependencies, and entities have been classified as Clients with a Low Risk Grade in terms of the 21st of these Provisions.

21st.- ...

...

...

In the case of the celebration of contracts remotely referred to in the 4th Bis of these Provisions, Entities must consider the Geolocation information, of the Device from which the Client carries out the Operation, activity, or service with the respective Entity.

Entities will not be obligated to consider Geolocation information in terms of this Provision, regarding the societies, dependencies, and entities referred to in Annex 1 of these Provisions, provided that said societies, dependencies, and entities have been classified as Clients with a Low Risk Grade in terms of this Provision.

...

...

...

...

To determine the Risk Grade in which Clients should be located, as well as whether they should be considered Politically Exposed Persons, each Entity will establish in its Compliance Manual the criteria conducive to that end, which take into account, among other aspects, the Client's background, their profession, activity, or business sector, the origin and destination of their resources, their place of residence, Geolocation, the methodology referred to in Chapter II Bis of these Provisions, and the other circumstances determined by the Entity itself.

23rd.- Prior to the celebration of contracts with Clients who, due to their characteristics, are classified by the Entity with a High Risk Grade, at least one executive or equivalent who has specific powers to approve the celebration of said contracts must grant, in writing, digitally or electronically, the respective approval. Likewise, for the purposes referred to in fractions IV and V of the 41st, as well as fractions IV and X of the 42nd of these Provisions, as applicable, Entities must provide in their Compliance Manual the mechanisms so that their respective Compliance Officers or representatives referred to in the 42nd of these Provisions, as applicable, have knowledge of those Clients that are classified with a High Risk Grade by the Entities themselves, as well as the procedures that must be carried out to process the approval indicated in this Provision.

31st.- For each Unusual Operation detected by an Entity, it must send to the Secretariat, through the Commission, the corresponding report, within three business days following the day on which the Committee session that adjudges it as such concludes. For the purposes of carrying out the adjudication in question, the Entity, through its Committee, will have a period that will not exceed sixty calendar days counted from when the alert is generated through its system, model, process, or by the Entity's employee, whichever occurs first.

...

36th.- For each Internal Suspicious Operation detected by an Entity, it must send to the Secretariat, through the Commission, the corresponding report, within three business days following the day on which the Committee session that adjudges it as such concludes. For the purposes of carrying out the adjudication in question, the Entity, through its Committee, will have a period that will not exceed sixty calendar days counted from when said Entity detects that Operation, through its system, model, process, or by any employee thereof, whichever occurs first.

...

...

41st Bis.- The Committee of each Entity or its board of directors or general manager may appoint an Entity official who will temporarily exercise the functions of Compliance Officer, in compliance with its obligations under these Provisions, for up to ninety calendar days during a calendar year, counted from when the official designated as Compliance Officer leaves, has their appointment revoked, or is unable to perform the assignment in question.

...

...

The Interim Compliance Officer must perform the functions and obligations indicated in these Provisions, until the moment when the revocation indicated in fraction II of the 43rd of these Provisions is reported.

43rd.-

...

I. The full name and surname without abbreviations of the official who has been designated as Compliance Officer or the representative referred to in the 42nd of these Provisions, as applicable, as well as the other information provided in the format indicated, within ten business days following the date on which the corresponding designation was made;

II. The revocation of the designation of the Compliance Officer, Interim Compliance Officer, or the representative who had been designated in terms of what is established in the 41st, 41st Bis, and 42nd of these Provisions, as applicable, within ten business days following the date on which it occurred, whether by determination of the Entity, rejection of the assignment, termination of employment, or impossibility, as well as the other information provided in the format indicated, and

III. The full name and surname without abbreviations of the official who has been designated as Compliance Officer in terms of what is established in the 41st Bis of these Provisions, as well as the other information provided in the format indicated, within ten business days following the date on which it occurred.

63rd.- ...

Entities must adopt and implement mechanisms that allow identifying Clients who are within the List of Blocked Persons, as well as any third party acting on behalf or for the account of the same, and the Operations they have carried out, are carrying out, or intend to carry out. Said mechanisms must be provided for in the Entity's Compliance Manual.

64th.- ...

I. to VI. ...

VII. Those that appear on the list of taxpayers referred to in the fourth paragraph of article 69-B of the Federal Tax Code.

67th.- ...

I. to IV. ...

V. Those that are in the situation of the sixth paragraph of article 69-B of the Federal Tax Code.

...

ANNEX 2

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Chapter I "Object"

Article 1.- This Annex aims to establish the minimum measures and procedures that Entities must observe in order to comply with the 4th Bis of these Provisions, without prejudice to compliance with the various obligations established therein.

Chapter II "Thresholds for remote identification"

Article 2.- Regarding the Technological Identification Mechanism provided for in Article 4 of this Annex, in the celebration of contracts with applicants who are natural persons, natural persons with business activity, or legal entities, all of Mexican nationality, whose resources come from an account opened in a financial entity authorized for that purpose, the sum of the Operations must not exceed the equivalent in national currency to 30,000 Units of Investment during the course of a calendar month.

In the event that the transactional level exceeds the maximum amount established in the previous paragraph, the Entity must carry out the Technological Identification Mechanism referred to in Article 5 of this Annex if it has the corresponding authorization, or carry out the in-person interview referred to in the first paragraph of the 6th of these Provisions, and integrate the respective Client identification file with all the information and documentation corresponding, in terms of what is provided in the 4th or 4th Bis of these Provisions, as well as comply with the various obligations established therein. Likewise, Entities must inform their Clients that they will not be able to carry out operations until the corresponding identification process is concluded.

To determine the transactional level referred to in this provision, Entities will not be obligated to consider amounts related to generated interest or any other bonus, including those amounts related to the Client's property rights, which such Entities grant for the use or management of the respective account, if any, carried out during the period in question.

Entities must take as the reference value for the Units of Investment referred to in this article, that applicable for the last day of the calendar month preceding that in which the calculation of the transactional level in question is carried out.

Chapter III "Technological Identification Mechanisms"

Article 3.- Entities may opt for one or both of the Technological Identification Mechanisms indicated in Articles 4 or 5, subject to the thresholds indicated in Article 2 of this Annex.

Without prejudice to the foregoing, additionally, Entities may carry out the Technological Identification Mechanism referred to in Article 5 of this Annex, subject to the thresholds referred to in the first paragraph of Article 2 of this Annex.

Article 4.- Entities must have technology that allows identifying the applicant through a recording containing image and sound, which must be preserved without edits in its total duration throughout the validity of the contract and, once it concludes, for a period of at least ten years from the conclusion of the contractual relationship.

Additionally, during the development of the Technological Identification Mechanism referred to in the previous paragraph, Entities must observe the following:

a) Register the time and date of its realization obtained from a protected time server.

b) Implement it through automated tools that allow its recording and subsequent reproduction.

c) Verify that the quality of the image and sound allows for the full identification of the applicant, according to the parameters established by the Entities themselves for that effect.

d) Require the applicant to show the valid identification document they sent along with the form referred to in fraction III of Article 7 of this Annex, both the front and back, verifying that it contains the same data and photograph as the valid identification document previously sent.

e) Use specialized technology that allows them to achieve reliable identification of the applicant, ensuring that there is a match between their face and that of the valid identification document previously sent.

f) Perform a liveness test on the applicant.

For the purposes of the foregoing, a liveness test shall be understood as technical tests based on algorithms, to measure and analyze the anatomical characteristics or voluntary and involuntary reactions of the applicant, in order to determine if a biometric sample is being captured from a subject with life present at the point of capture.

Article 5.- Entities must verify the coincidence of the applicant's biometric information, either with the records of the National Electoral Institute, the Secretariat of Foreign Relations, or with those of any other Mexican authority that provides a biometric information verification service.

In the event that the biometric information referred to in the previous paragraph is the applicant's fingerprints, Entities must ensure that the applications or means they have available ensure that the fingerprint is obtained directly from the applicant, that is, a live fingerprint test, avoiding the recording of fingerprints coming from impressions on any material that intends to simulate another person's fingerprint or images that pursue such an end, and have security measures that guarantee that the stored, processed, or sent information through said applications or means is not known or used by unauthorized third parties, as well as authenticate that the fingerprint obtained from the applicant coincides, at least, by ninety percent with the records of the databases of either the National Electoral Institute, the Secretariat of Foreign Relations, or with those of any other Mexican authority that provides a biometric information verification service.

Additionally, Entities must have technology that allows identifying the applicant through a recording containing image and, if applicable, sound, which must be preserved without edits in its total duration throughout the validity of the contract and, once it concludes, for a period of at least ten years from the conclusion of the contractual relationship, and must observe the requirements referred to in Article 4, second paragraph of this Annex. To comply with item c), it will be necessary to verify the quality of the sound when applicable.

Article 6.- In the event that the National Electoral Institute, the Secretariat of Foreign Relations, or any other Mexican authority that provides a biometric information verification service, cannot respond to the biometric information verification requests referred to in Article 5 of this Annex due to technical or communication failures attributable to the corresponding Mexican authority, Entities may, if they have the corresponding authorization, carry out the Technological Identification Mechanism of Article 4 of this Annex 2, subject to the limits established therein.

In the event that the transactional level exceeds the maximum amount established for the Technological Identification Mechanism referred to in Article 4 of this Annex, the Entity must carry out the in-person interview referred to in the 6th of these Provisions or apply the Technological Identification Mechanism provided for in Article 5 of this Annex, if it has the corresponding authorization for the latter, and integrate the respective Client identification file with all the information and documentation corresponding, in terms of what is provided in the 4th or 4th Bis of these Provisions, as well as comply with the various obligations established therein. Likewise, Entities must inform their Clients that they will not be able to carry out operations above the limit until the corresponding identification process is concluded.

Chapter IV "Requirements"

Article 7.- Additionally, for the purposes of what is established in this Annex, Entities must:

I. Obtain prior authorization from the Commission.

Authorization referred to in the previous paragraph will not be necessary when Entities comply with the thresholds referred to in the first paragraph of Article 2 of this Annex and carry out the Technological Identification Mechanism referred to in Article 5 of this Annex. In this case, Entities must inform the Commission in advance of the products and the date on which they will begin to offer them, through the electronic means indicated by the latter.

Likewise, Entities must observe what is established in fractions II to VII of this Article, as well as the requirements provided for in Articles 8 and 9 of this Annex.

Entities must conserve all the supporting information and documentation, which must be available to the Commission, upon request, within the timeframe established by the Commission itself.

II. Require the applicant to declare if they are already a Client of the Entity. In the event that the declaration is affirmative, the Entity must observe what is provided in fraction IV of this Article. Regardless of the applicant's declaration, the Entity must complete their identification file according to the product they intend to contract.

III. Require the applicant who has declared not to be a Client of the Entity to send a form through the electronic medium established by the Entity for that effect, in which must be included, at least, the identification data referred to in the 4th Bis of these Provisions, as well as the specification of the product intended to be contracted.

The aforementioned form must include a statement indicating that its submission to the Entity in question constitutes the applicant's acceptance for their image and, if applicable, their voice to be recorded in one of the Technological Identification Mechanisms referred to in Chapter III of this Annex. This statement may be made through automated tools that allow its recording and subsequent reproduction.

IV. In the event that the applicant declares being a Client of the Entity, it must verify at least the data of full name, Client number, and Unique Population Registry Key of the Client, as well as the other data it determines itself in order to corroborate against its own records that, in fact, it is a Client, and in the event that this is the case, the Entity must authenticate them with a category 3 authentication factor.

A category 3 authentication factor shall be understood as the information contained, received, or generated by electronic means or devices, as well as that obtained by devices generating dynamic one-time passwords. Such means or devices must be provided by the Entities to their Clients, and the information contained, received, or generated by them must meet the following characteristics:

a) Have properties that prevent their duplication or alteration.

b) Be dynamic information that cannot be used more than once.

c) Have a validity that cannot exceed two minutes.

d) Not be known prior to its generation and use by the Entity's officials, employees, representatives, or agents, or by third parties.

In the event that the verification referred to in the first paragraph of this fraction is successful, the Entity may proceed to the contracting of the products provided for in Article 2 of this Annex, without the need to carry out what is established in the following fractions V to VIII.

When the verification referred to in this fraction does not result in success, the Entity must observe the same requirements provided for in this Annex for applicants who declare not to be Clients.

V. If the Entity corroborates that the applicant is not its Client, together with the form referred to in fraction III of this Article, it must require the applicant to send a color photograph of one of the valid identification documents referred to in the 4th Bis of these Provisions, front and back, and verify the security elements in order to detect if they present alterations or inconsistencies, for which they must have the necessary technology for this.

Repealed.

Repealed.

...

Repealed.

Regarding the voter credential issued by the National Electoral Institute in the country or through the consular offices of the Secretariat of Foreign Relations abroad, Entities must verify the coincidence of the data listed below, with the records of the Institute itself or with those of any other Mexican authority that provides a verification service regarding said identification document:

a) The Credential Identifier Code (CIC), which is printed on the voter credential or, if applicable, the Optical Character Recognition Code (OCR).

b) to d) ...

Entities must verify that the paternal and maternal surnames and name or names, as they appear on the presented voter credential, match the records of the National Electoral Institute or the National Population Registry or with those of any other Mexican authority that provides a verification service for said identification document.

Regarding the Mexican passport issued by the Secretariat of Foreign Relations in the country or through its consular offices abroad, Entities must verify the coincidence of the data

that are mentioned below with the records of the Secretariat itself or with those of any other Mexican authority that provides a verification service regarding said identification document:

a) Optical Character Recognition Code (OCR).

b) Paternal and maternal surnames and first name(s), as they appear in the Mexican passport.

c) Passport Number.

In the case of the consular enrollment certificate issued by the consular offices of the Secretariat of Foreign Affairs abroad, the Entities must verify the coincidence of the data mentioned below with the records of the Secretariat itself or with those of any other Mexican authority that provides a verification service regarding said identification document:

a) Paternal and maternal surnames and first name(s), as they appear in the consular enrollment certificate.

b) Date of issue and date of expiration.

c) Document number.

Additionally, the Entities must require the applicant to send in digital format the necessary documents to integrate and maintain their identification file in accordance with what is provided in 4th Bis of these Provisions.

VI. Inform the applicant of the procedure that will be followed in the Technological Identification Mechanism corresponding to those provided in Chapter III of this Annex and what the access means are for its realization, as well as deliver a one-time use code, which will be required from the applicant at the beginning of the Technological Identification Mechanism in question.

Repealed.

VII. The Entities must suspend the hiring process of the applicant when any of the following cases occur:

a) The quality of the image and, if applicable, the sound, do not allow for full identification of the applicant.

b) The applicant does not present the valid identification document previously sent along with the form referred to in fraction III of article 7 of this Annex, the data obtained from this do not match the records of the National Electoral Institute, the Secretariat of Foreign Affairs, the National Population Registry or with those of any other Mexican authority that provides a biometric information verification service regarding said identification document or, the result of the validation of the security elements of the aforementioned documents or of the biometric verifications of the applicant's face referred to in article 5 above, do not reach the effectiveness or level of reliability referred to in fraction VII of article 9 of this Annex.

c) and d) ...

e) Atypical or risky situations arise, or the Entity has doubts about the authenticity of the valid identification document or the identity of the applicant.

Repealed.

In the event of suspension of the hiring process for the causes mentioned in the subsections above, the Entities must store the information and documentation obtained for at least 30 natural days, with the objective that, in case of resuming the hiring processes, it is corroborated that the information is consistent. Additionally, the aforementioned information and documentation must be used by the Entities in the controls provided for in these Provisions.

For the case of Clients or applicants who are legal entities, for the purposes of identifying their attorneys or legal representatives, the Entities must observe the same procedures indicated in this article, with the exception that, for the case of applicants who declare not to be Clients, the sending of the form referred to in fraction III of this article must be done through a file signed with the Advanced Electronic Signature of the legal entity in question.

The technology used for the procedures referred to in this Annex must be approved by the risk manager or their equivalent or, in case of not having this, by the audit committee, the board of directors or sole administrator of the Entities.

The Entities may agree during the development of the Technological Identification Mechanism for the celebration of the contracts referred to in this Annex, the hiring of electronic services associated with such products, without being able to allow that through the services contracted in accordance with what is established in this article, the celebration of operations charged to other products of the same Client is instructed. The aforementioned prohibition will not be applicable when the Client goes to the offices to carry out the hiring of electronic services.

Repealed.

Article 8.- The Entities must have the necessary means for the transmission and safeguarding of the information, data, and files generated in the identification procedures referred to in article 7 of this Annex, which guarantee the integrity of said information, as well as the correct reading of the data and the impossibility of its manipulation, as well as its adequate security, conservation, and location.

The Entities may use technological improvements that help compensate for the clarity of the images, when any of the valid identification documents are shown and the facial recognition of the applicant is performed, which must be approved by their risk manager or their equivalent or, in case of not having this, by the audit committee, the board of directors or sole administrator.

Chapter V "Other Provisions"

Repealed.

Article 9.- The Entities, when requesting the authorization referred to in article 7, must present the following:

I. Detailed description of the non-presential identification process, as well as the Technological Infrastructure used in each part of this, specifying the function of each component of said infrastructure, which must be approved by the risk manager or their equivalent or, in case of not having this, by the audit committee, the board of directors or sole administrator.

Likewise, the Entities must include all technology providers involved in the Technological Infrastructure and, if applicable, the main applications used for the referred process and their interrelation.

II. Description of the electronic means used so that applicants send, if applicable, the form and documents through a secure channel considering, at least, the type of transmission of the device to the node that receives the form information, such as Hyper Text Transfer Protocol Secure, or Transport Layer Security version 1.2 or higher.

III. Name of the service provider authorized by the Secretariat of Economy used for the conservation of the digital version of any of the valid identification documents referred to in 4th Bis of these Provisions, in accordance with the Official Mexican Standard on digitalization and conservation of Data Messages applicable or consider an international standard whenever the compliance standard has at least the requirements of the Mexican official standard and does not contravene it.

IV. Network diagram showing all components of the Technological Infrastructure that are part of the non-presential identification process, including the segregation of communication networks and perimeter security equipment, considering redundancy schemes.

Repealed.

V. Detailed information on whether the images of valid identification documents, recordings, and biometric information will be kept in service provider facilities or the Entity's own facilities, describing the controls for access management and mechanisms for their storage.

VI. Evidence that the means of verification of the validity of identification documents have the effectiveness approved by the risk manager or their equivalent or, in case of not having this, by the audit committee, the board of directors or sole administrator of the Entities.

VII. If applicable, evidence that the systems, tools, or mechanisms used for facial identification recognitions or verifications of any other biometric element that are used, have the level of reliability determined by the risk manager or their equivalent or, in case of not having this, by the audit committee, the board of directors or sole administrator.

VIII. If applicable, detailed information on the calibration tests of the systems, tools, or mechanisms used for facial identification recognitions or verifications of any other biometric element that are used.

These tests must be carried out in accordance with the thresholds established by the Entity, which must contemplate the results of these tests, and the adjustments of the validation engine derived from them.

The Entities must accompany their authorization request with evidence of all the above.

IX. Image quality standards and, if applicable, sound.

X. If applicable, the technical description of category 3 authentication factors that will be required to corroborate that an applicant is a Client of the Entity, in accordance with what is provided in Article 7 of this Annex, as well as the characteristics of the one-time use code.

XI. Mechanisms through which they will transmit and securely safeguard the information, data, and documents generated in the non-presential identification procedure.

XII. Mechanisms used to guarantee the integrity, correct reading, impossibility of manipulation, and adequate security, conservation, and location of the information, data, and documents referred to in this Annex.

XIII. Encryption mechanisms in the communication channels used in the non-presential identification process, indicating the information that will be transmitted through each of said channels.

XIV. Mechanisms used for access management to the systems, as well as policies for access management, which include the use of robust passwords.

XV. Policies and procedures for information security incident management.

XVI. Mechanisms or tools used for monitoring and blocking hirings that present the situations described in subsection e) of fraction VII of article 7 of this Annex.

XVII. Conduct tests aimed at detecting vulnerabilities and threats, as well as penetration tests on the different components of the Technological Infrastructure used in the process, whether own or third-party. The aforementioned penetration tests must be carried out by an independent third party that has personnel who have the technical capacity proven by specialized industry certifications in the matter.

The Entities must provide the Commission with evidence of the performance of the tests referred to in fractions VIII and XVII of this article, before implementing the scheme that has been authorized to them in accordance with Article 7 of this Annex.

It is the responsibility of the Entities that hire third parties to store, process, and transmit information in the non-presential hiring process, the monitoring of compliance with this article, at least once a year, as well as the obligation to have the evidence that supports it, which they must have available to the Commission at all times.

When the Entities intend to modify any of the procedures that they have authorized to comply with article 4 or article 5, as applicable, of this Annex, they will require prior authorization from the Commission.

Article 10.- The procedures established in articles 4 or 5 of this Annex are independent of those used in the hirings and operations that the Entities carry out with their Clients in terms of Chapter II of Title Fifth of the General Provisions applicable to investment funds and to the persons who provide services to them issued by the Commission or those that replace them.

Transitory Provisions

First.- This Resolution will enter into force the day after its publication in the Official Gazette of the Federation except for what is provided in the following Transitory Provisions.

Second.- The guidelines, interpretations, and criteria issued by the Secretariat or by the Commission, based on what is established in the Resolution of December 31, 2014 and subsequent Resolutions through which the General Provisions referred to in article 91 of the Investment Fund Law have been added or reformed, will continue to be applicable insofar as they do not oppose what is established in this Resolution.

Third.- The Entities that have obtained the approval of the National Banking and Securities Commission for the non-presential identification mechanisms in terms of Annex 2 of the General Provisions referred to in article 91 of the Investment Fund Law, in force until before the entry into force of this Resolution, will have a period of twelve months, counted from the entry into force of this Resolution, to present to said Commission a new request for authorization in compliance with article 7, fraction I of Annex 2 that is reformed with this instrument.

The authorization referred to in the previous paragraph will remain in force until such time as the Commission resolves on the authorization request that the Entities have presented to said Commission in accordance with what is indicated by Annex 2 of the General Provisions referred to in article 91 of the Investment Fund Law, which are reformed with this Resolution.

Fourth.- The Entities that have opted to implement, on a temporary basis, the administrative facility contained in letter number P322/2020 of June 15, 2020 issued by the Commission, under the COFOURTH of the AGREEMENT by which temporary and extraordinary measures are established and some deadlines are suspended for the attention of financial entities and persons subject to supervision of the National Banking and Securities Commission, due to the coronavirus named COVID-19, published in the Official Gazette of the Federation on March 26, 2020, may continue to apply it for the period that the Commission informs them through letter. This, without prejudice to the fact that said Commission may modify the aforementioned administrative facilities, by virtue of the entry into force of this Resolution.

Fifth.- The Entities must comply with the obligations contained in this Resolution, in the terms and in accordance with the deadlines indicated below:

I.

Four months counted from the entry into force of this Resolution to modify the Compliance Manual and present it to the Commission.

II.

Nine months counted from the date of entry into force of this Resolution, to modify the methodology referred to in Chapter II Bis of the Provisions.

III.

Eighteen months counted from the date of entry into force of this Resolution, to update the automated systems referred to in 46th of the Provisions.

IV. Six months counted from the date of entry into force of this Resolution, to obtain the geographic coordinates of latitude and longitude based on the matching of the Internet protocol address provided by the client's device with a geographic location, for the approximate obtaining of said coordinates, in case the Clients carry out Non-presential Operations from a device that, due to its characteristics, cannot provide the geographic coordinates of latitude and longitude through the global positioning system (GPS).

Sixth.- In the event that the Entities update the assumption provided in article 7, fraction I second paragraph of Annex 2 that is reformed with this Resolution, they must inform through the email prevencion.lavado@cnbv.gob.mx, through a free written document addressed to the General Directions of Prevention of Operations with Illicit Proceeds A and B of the Commission, the situation provided for in said article as long as the Commission establishes the ideal electronic means for the Entities to comply with what is provided for in said article.

Seventh.- Those references of ultimate beneficiary that are provided for in another regulatory framework, guidelines, or guides issued by the competent authorities in matters of prevention of operations with illicit proceeds and financing of terrorism other than these Provisions, as well as in the public consultation databases in charge of the competent authorities, the Entities may equate it to the defined term of Beneficial Owner referred to in these Provisions.

Mexico City, August 25, 2021.- The Secretary of Finance and Public Credit, Rogelio Eduardo Ramírez de la O .- Rubric.

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